Lean hog futures posted nearby gains of 40 cents to $1 on Friday, as December was up $1.05 this week. USDA’s national base hog price was reported at $71.53 on Friday afternoon, down $1.12 from the day prior. The CME Lean Hog Index was up 16 cents on December 3 at $81.83.
Commitment of Traders data from Friday afternoon showed managed money slashing 22,070 contracts from their net long in lean hog futures and options as of October 28. That took the net long to 95,161 contracts.
USDA’s pork carcass cutout value from the Friday PM report was up $3.06 to $96.39 per cwt. All primals were reported higher. USDA estimated federally inspected hog slaughter for this week at 2.702 million head. That was 98,210 head above the week last year.
Dec 25 Hogs closed at $81.650, up $0.525,
Feb 26 Hogs closed at $82.275, up $0.425
Apr 26 Hogs closed at $86.775, up $1.000,
